Pro-Pac Packaging Confronts Tough Fiscal Year

Pro-Pac Packaging Limited (AU:PPG) has released an update.

Pro-Pac Packaging Limited faced a challenging fiscal year 2024, with revenues decreasing by 13% to $295.2 million, and a significant pre-tax loss of $22.1 million attributed to lower sales and various market difficulties. Despite these setbacks, the company is focusing on cost reduction strategies, including a 10% reduction in headcount, and is investing in a new recycling facility to enhance its position in soft plastic recycling.

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